Arrowstreet Capital Limited Partnership Purchases 326,115 Shares of CS Disco, Inc. $LAW

Key Points

• Arrowstreet Capital increased its CS Disco stake by 216.5%, purchasing 326,115 shares to hold 476,752 shares worth approximately $1.82 million. Institutional investors collectively own 58.05% of LAW.
• Analyst sentiment remains mixed, with CS Disco receiving a consensus “Hold” rating and an $8.00 average price target. Recent coverage included a downgrade to Hold and revised Sell ratings.
• CS Disco reported quarterly revenue of $43.15 million, slightly above estimates, while meeting expectations with an adjusted loss of $0.06 per share. The company remains unprofitable, with a negative net margin of 26.28%.

Arrowstreet Capital Limited Partnership lifted its position in CS Disco, Inc. (NYSE:LAW - Free Report) by 216.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 476,752 shares of the company's stock after purchasing an additional 326,115 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.74% of CS Disco worth $1,821,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of LAW. Tower Research Capital LLC TRC lifted its position in CS Disco by 87.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 9,968 shares of the company's stock worth $44,000 after buying an additional 4,639 shares during the last quarter. Abel Hall LLC bought a new stake in shares of CS Disco in the 1st quarter worth approximately $57,000. Algert Global LLC purchased a new stake in shares of CS Disco in the 3rd quarter valued at $70,000. Occudo Quantitative Strategies LP purchased a new stake in shares of CS Disco in the 2nd quarter valued at $75,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of CS Disco by 242.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 13,450 shares of the company's stock valued at $87,000 after purchasing an additional 9,523 shares during the last quarter. 58.05% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

LAW has been the topic of a number of analyst reports. Wall Street Zen cut shares of CS Disco from a "buy" rating to a "hold" rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of CS Disco from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, July 2nd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, CS Disco has a consensus rating of "Hold" and a consensus target price of $8.00.

Insider Activity at CS Disco

In other news, CEO Eric Friedrichsen acquired 9,000 shares of the stock in a transaction dated Friday, May 8th. The stock was purchased at an average cost of $3.97 per share, with a total value of $35,730.00. Following the completion of the purchase, the chief executive officer owned 1,517,172 shares in the company, valued at approximately $6,023,172.84. The trade was a 0.60% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.80% of the company's stock.

CS Disco Stock Performance

NYSE:LAW opened at $4.04 on Thursday. CS Disco, Inc. has a fifty-two week low of $2.45 and a fifty-two week high of $9.11. The firm has a market cap of $258.76 million, a PE ratio of -5.93 and a beta of 1.90. The business has a 50 day moving average price of $3.84 and a 200-day moving average price of $4.11.

CS Disco (NYSE:LAW - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $43.15 million for the quarter, compared to the consensus estimate of $42.67 million. CS Disco had a negative net margin of 26.28% and a negative return on equity of 26.12%.

CS Disco Profile

CS Disco, Inc is a provider of cloud-native, artificial intelligence-driven legal applications designed to streamline e-discovery, document review and compliance processes for law firms and corporate legal departments. The Austin, Texas–based company offers a unified platform that automates labor-intensive tasks using machine learning and predictive analytics, enabling legal professionals to process, search and review large volumes of data with greater speed and accuracy.

At the core of CS Disco's product suite is its flagship e-discovery application, which supports early case assessment, data processing, review analytics and production workflows.

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